Our Vietnam customs data covers shipment information of commodities which are imported or exported by the country. Ho Chi Minh City (formerly Saigon) has French colonial landmarks, plus Vietnamese War history museums and the . This asymmetric approach takes into account the fact that Vietnam is a developing country. Vietnam has made rapid economic progress since launching its first major economic reforms in 1986. In official reports, the US was the largest export market for Vietnam in 2020. USD . Vietnam and Switzerland have agreed to soon conclude negotiations on a free trade agreement (FTA) between Vietnam and the European Free Trade Association (EFTA), of which Switzerland is a member. Merchandise Trade statistics data for Vietnam (VNM) including exports and imports, applied tariffs, top exporting and importing countries, effectively applied and MFN tariff along with most exported and imported product groups, along with development indicators such as GDP, GNI per capita, trade balance and trade as percentage of GDP for Most Recent Year. It imported $76.4 billion worth of products from Vietnam, up by 24.5 percent. The goods imported by foreign-invested enterprises and business cooperation parties must comply with the provisions of their granted investment licenses, the Law on Foreign Investment in Vietnam, and other relevant legal requirements. Vietnam . Cargoes booked in early December typically arrive in the first half of February, when the Tet festival is in full swing in the Southeast Asian nation. This strategy allows foreign businesses that have time constraints, wish to test the market, or only import a few times to cope with logistical, regulatory, and language barriers. These trade surpluses with both Europe and the U.S. have been critical to the continuous growth of the country. Vietnam imported auto parts and accessories mainly from Korea, Thailand, China, and Japan in the first nine months of 2021, accounting for 83% of total import turnover. Includes import documentation and other requirements for both the U.S. exporter and foreign importer. Vietnam is a Southeast Asian country on the South China Sea known for its beaches, rivers, Buddhist pagodas and bustling cities. Vietnam Import - Export Report provides transparent, systematic information, is interested, trusted and appreciated by management agencies . Vietnam has reserved the right of importation to state trading entities in the following product categories: cigars and cigarettes, crude oil . View our free materials and advanced courses: I wou. Preliminary data tables of . VIETNAM EXPORTS: BY COUNTY AND CATEGORY . Electrical and Electronic equipment accounting for 49% of the total imports. The Bank is also involved in international clearing, money transfer, foreign exchange and gold trading, as well as the . Indian companies such as Adani Group, Mahindra, SRF, HCL and Suzlon have existing or planned operations in Vietnam. The world aggregation represents the sum of reporting and non reporting countries. Import activity for ferrous scrap in Vietnam was thin in the week to Friday December 3 due to the approaching Tet holiday in February and high inventory levels. EU duties on imports from Vietnam will be eliminated progressively over a 7-year period. Export-import to China impacted by COVID-19. The following product groups represent the highest dollar value in Vietnam's import purchases during 2020. The UK-Vietnam Free Trade Agreement came into effect from 1st January 2020. Electrical machinery, equipment: US$96 billion (34.3% of total imports) Machinery including computers: $26.9 billion (9.6%) Plastics, plastic articles: $15.2 billion (5.4% . Its products include multiple types of savings, deposits, loans, credits, bank guarantees, credit cards and cash services. As per Vietnam export import trade data, this has catapulted the increased production from the manufacturing companies. This market research company provides import export data of 60+ countries and analysis reports of 20+ countries with actual shipment records. Imports in Vietnam decreased to 29.80 USD Billion in November from 26.13 USD Billion in October of 2021. The textile and garment industry has been a major export industry of Vietnam since it opened the economy in the mid-1980s. A Special Sales Tax (SST) applies to the production and import of 11 products considered as luxurious or non-essential. In practice, companies that want to import to Vietnam without setting up a local legal entity can utilize an importer of record to facilitate the process. The conditions and methods of tax calculation for these goods are similar to those for ordinary exports and imports. Vietnam: Vietnam exported 43Mt of cement and clinker in the first 11 months of 2021, up by 24% year-on-year from 11-month export volumes in 2020. Preliminary Imports of goods In 2020 (.xls) Preliminary Imports and exports by country group, country and territory In 2020 (.xls) Preliminary Exports by some main country groups, countries, territories and by main goods In 2020 (.xls) Preliminary Imports by some main country groups, countries, territories and by main goods In 2020 (.xls) It continues to develop from a low-cost labour economy to a higher value . Vietnamese coffee has, in recent years, become popular abroad because of its strength and flavor. compared to 2019 (it was 1.3% in 2019 and cumulative imports to Vietnam were equal to $ 253 billion). 6.17% ($16.1 billion): 8517 - Electrical apparatus for line telephony or line telegraphy, including line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones. According to the Department of Commerce, U.S. exports of goods and services to Vietnam supported an estimated 65 thousand jobs in 2019 (latest data available . Also shown is the percentage share each product category represents in terms of overall imports into Vietnam. Petroleum and fine minerals are also imported that are required by the industries and factories on a large scale. With the Nghi Son Refinery opening up in early 2018, Vietnam will have two refineries, each producing a wide variety of petroleum products - mostly for the domestic market, but some for exports. Vietnam's fundamental growth drivers include domestic demand, a result of a fast growing middle class, the golden population structure with a median age of 30, a highly educated and digitally-savvy generation, as well as export-oriented manufacturing. This page provides the latest reported value for - Vietnam Exports - plus previous releases . Friday, December 3, 2021 | 19:08:58 (VOVWORLD) - Vietnam's export and import activities have recorded encouraging results this year. Import Turnover from Nigeria to Vietnam. Date of issue: 05/10/2020 Reference period: 9/2020. Customs electronic data processing system . Trade data of Vietnam export can be analysed on the basis of: Company - Vietnamese suppliers and overseas importers. Vietnam's exports, imports gain momentum. The export-import turnover of 2021 is expected to be over 600 billion USD. Deputy Director of the Export and Import Department of the Ministry of Industry and Trade Tran Thanh Hai (Photo: VOV) Deputy Director of the Export and Import Department of the Ministry of Industry and Trade Tran . Vietnam had a total export of 264,610,322.65 in thousands of US$ and total imports of 253,442,015.85 in thousands of US$ leading to a positive trade balance of 11,168,306.80 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for Vietnam is 1.66% and the Most Favored Nation (MFN) Weighted Average tariff is 5.60%.The trade growth is 5.04% compared to a world . Enterprises transporting imports or exports transacted via e-commerce are enterprises hired by e-commerce platforms or e-commerce websites to transport imports or exports. For example, consumer goods, especially luxury goods are usually subject to higher tax rates than machinery, raw materials or equipment used in production. 187/2013/ND-CP, Vietnam currently prohibits the importation of a few products, including: weaponry, ammunition, explosive (excluding industrial explosives), military technical equipment (The Ministry of National Defense shall publish a list of goods with HS codes in the Import and Export Tariffs), assorted fireworks (excluding signal fires used for navigational safety . The import tax rates range depending on the type of product, for example, consumer products and luxury goods are highly taxed while machinery, equipment, and raw materials, tend to receive lower taxes and even tax exemptions. The latest import-export report of the Ministry of Agriculture and Rural Development (MARD) shows that in this period, the total import-export turnover of Vietnam's agricultural, forestry and fishery products reached over 74.3 billion USD, up 24.2% over the same period of last year. They have come up with the latest analysis report on top Vietnam import products, which . Vietnam exported 3.5 billion USD worth of coffee in 2018. Vietnam's Top Imports in 2020: 15% ($39 billion): 8542 - Electronic integrated circuits and microassemblies. Electrical machinery, equipment: US$153.5 billion (44.1% of total exports) Machinery including computers: $23.9 billion (6.9%) Vietnam is known to have strict controls of agricultural imports in order to protect the country's key agricultural sector. According India import data the total imports between India and Vietnam was 7.22 billion dollars. Exports in Vietnam increased to 29.90 USD Billion in November from 28.87 USD Billion in October of 2021.

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